The Secretary for Commerce and Economic Development, Mr Algernon Yau, continued to attend the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT) Meeting in Suzhou today (May 23).

     At the discussion session entitled "Foster New Engines of Innovative and Dynamic Trade and Investment Cooperation", Mr Yau highlighted the importance of sustainability and technological advancement in reshaping the global trade landscape and economic growth.

     Noting that Hong Kong, as the world's fifth largest merchandise trading entity in 2025, has been pursuing digital and green trade to stay resilient and competitive, Mr Yau shared with fellow trade ministers Hong Kong's efforts and key directions in this regard.

     Mr Yau said that Hong Kong has been harnessing the power of artificial intelligence (AI) to provide trade facilitation measures and digitalise its logistics industry. The recent initiatives included the commencement of the final phase of the Trade Single Window system with a view to streamlining trade document submissions, and the launch of the Port Community System to digitally integrate sea, land and air transport networks, thereby enabling real-time cargo tracking and data sharing.

     He noted that Hong Kong also recognises the need to popularise AI understanding to enable people and enterprises to use it safely, responsibly and productively. Hong Kong will establish the Committee on AI+ and Industry Development Strategy and has also put in place various initiatives to deepen AI integration and encourage wider AI application.

     In addition, as a global financial centre, Hong Kong has developed financing tools tailored for modern supply chains. Citing the Project CargoX launched last year as an example, Mr Yau said that it leverages cargo and trade data to streamline and enhance trade finance processes.

     Turning to developing cross-border digital trade, Mr Yau said that Hong Kong fully supports the APEC Trade Digitalization Cooperation Framework proposed by the country and looks forward to implementing the framework with fellow member economies.

     On green and low carbon trade, Mr Yau noted that Hong Kong is fully committed to pursuing the goal of achieving carbon neutrality by 2050. In 2025, green and sustainable debt issuance in Hong Kong totalled US$77 billion.

     On the sidelines of the MRT meeting, Mr Yau took the opportunity to meet with the Minister for Trade and Investment of New Zealand, Mr Todd McClay, to exchange views on various issues, including fostering bilateral trade relations.

     The two-day MRT meeting concluded. Mr Yau will return to Hong Kong this evening.

Ends/Saturday, May 23, 2026
Issued at HKT 14:00

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